Dear Customer,

At this point, you probably have many questions about purchasing in a foreign country are likely unsure about the upcoming process with BCM as your mortgage broker. This short piece is designed to tell you all you need to know about everybody’s roles in your transaction so as to keep you informed and educated about the coming 60-120 days this transaction will take to fund.

Once you have been prequalified for your loan and your BCM broker has provided you your portfolio of options, you will need to make a selection and your broker will provide you a checklist of items needed to submit your loan to the lender. Once these documents have been provided to us, we turn your loan over to our processing department and our processing manager will review your loan packet. The responsibility of the Processing department is to submit your loan to the lender and request any additional documents from the customer that may have been left out of the loan packet or is still required from the lender. Once your loan is approved with the lender, an approval letter is sent out from the Processing department to you and your buyer/sellers agent and seller to ensure all parties are informed of the “Approved” status of your loan.

At this point you will be introduced to P&H closings, our legal council which works closely with BCM and the Lender to ensure all permits/ appraisal/ title work is executed as per the Lenders strict criteria. They will be requesting more documentation from you and also requesting “pre-closing” costs which are due directly to the various 3rd parties required by Mexican real estate law for the cost of their services and are distributed as such. They are able to facilitate all parties locally operating from Mexico, but have a complete understanding of the US/Mexico process with perfect levels of communication in both languages. They are not only required to order your various permits/ appraisal/ title checks etc, but can also draw up your Power of Attorney or any other legal contract as well as provide representation on any legal real estate matter that may be of importance to you that may not necessarily be transaction related. Updates on your closing will be provided directly from the Coldwell Banker team.

We are available at any time for questions and queries on your loan and look forward to the opportunity to work on your loan. Please be patient with your Mexico purchase process as it is a foreign country and the process differs greatly from the US or Canadian purchasing process.

Best Regards,

Ryland Apsey
President/ BCM

www.bajacapitalmortgage.com